Many crude oils have a high naphthenic acid content. This reduces the value of the crude oil since the acid content can cause corrosion in the processing equipment. Expensive corrosion resistant equipment must be used or non-corrosion resistant equipment must be frequently maintained or replaced. Once the acid is removed it creates an disposal problem. There are increasing environmental concerns relating to disposing of chemical wastes as well as increasing costs for disposing of hazardous materials. It would be advantageous to have a process for making a useful product from the naphthenic acids in high density crude oils thus avoiding the need of disposing of environmentally hazardous materials.